Sensors in Internet of Things (IoT) Devices Market Drivers, Restraints and Industry Forecast By 2028

Increasing adoption of sensor-based IoT-enabled solutions in the healthcare sector, coupled with growing automation trend in various industries is driving market growth.

The global sensors in Internet of Things (IoT) devices market is expected to reach a market size of USD 204.74 Billion at a steady CAGR of 30.8% in 2028, according to latest analysis by Emergen Research. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market. This steady revenue growth of the market can be attributed to increasing Internet and wearable medical device penetration and growing trend of smart factories and automation of various manufacturing processes. Adoption of IoT-enabled sensors and devices to enable more flexible manufacturing processes and to improve productivity has been increasing.

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The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Sensors in Internet of Things (IoT) Devices market. Furthermore, the report provides a comprehensive analysis of the factors that are likely to bolster or impede the growth of the market in the coming years. The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall Sensors in Internet of Things (IoT) Devices industry. The report considers the COVID-19 pandemic that is currently unfolding as a key market influencer. The COVID-19 pandemic has affected several sectors of the global market, and the Sensors in Internet of Things (IoT) Devices sector is expected to feel the impact of the pandemic

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Radical Highlights of the Sensors in Internet of Things (IoT) Devices Market Report:

  • Details and insights about business expansion strategies, product launches, and other collaborations
  • Impact of the technological developments and RD advancements on the Sensors in Internet of Things (IoT) Devices market
  • Information about profit-making strategies and developmental strategies of major companies and manufacturers
  • Insightful information for the new entrants willing to enter the market
  • The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis

Emergen Research has segmented the global sensors in Internet of Things (IoT) devices market on the basis of application, sensor type, network technology :

  • Application Outlook (Revenue, USD Billion; 2021–2028)
    • Retail
    • Manufacturing
  • Sensor Type Outlook (Revenue, USD Billion; 2021–2028)
    • Motion sensors
    • Chemical sensors
  • Network Technology Outlook (Revenue, USD Billion; 2021–2028)
    • Wireless
    • Wired

Competitive Landscape:

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals. Key players in the market include Acuity Brands, Bosch Sensortec GmbH, Cisco Systems, Ericsson, Google Inc., Honeywell International Inc., HTC Corporation, IBM, Infineon Technologies, and Intel Corporation.

Key Highlights of Report

  • In October 2020, Cisco Systems announced the launch of two new cloud-managed IoT sensor solutions, namely Meraki MT sensors and Industrial Asset Vision sensors. The IoT sensor solutions are expected to help businesses simplify facility and asset monitoring across their organizations, from outdoor Operation Technology (OT) to indoor IT closet spaces at scale.
  • The manufacturing segment accounted for largest market share in 2020. Manufacturers across various industries are adopting IoT solutions with increased focus on sensors, robotics, centralized tracking, cloud, and quality inspection in order to implement smart manufacturing, which is projected to boost demand for sensors for such solutions and applications.

Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.

About Us:

At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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